Arch Insurance launches family and medical leave product

Insurance Business America | October 18, 2019

Arch Insurance has announced that it is offering a Paid Family Medical Leave (PFML) product to employers in Massachusetts. The new product was designed following the state’s new legislation which requires that all employers in Massachusetts make paid family and medical leave coverage available for every worker. The legislation, MGL c.175M, establishes a system for paid family leave of up to 12 weeks to care for a relative and up to 20 weeks for an insured’s own illness, with benefits beginning in 2021. By default, all employees in Massachusetts will be enrolled in the state-sponsored PFML coverage. Employers and employees participating in the state-sponsored coverage are required to submit contributions to the state (through payroll deductions) starting in the fourth quarter of 2019; the state’s benefits program takes effect January 01, 2021. Arch’s new product is a private plan that meets the state’s criteria for PFML; employers who purchase the product can file for an exemption from the state-sponsored plan and eliminate the need to contribute to the state fund.

Spotlight

A recent roundtable hosted by Insurance Post in association with LexisNexis Risk Solutions saw an expert panel discuss how data enrichment can be used from a post-loss perspective and what this change could mean for the future of property claims. This article provides a summary of the discussion.

Spotlight

A recent roundtable hosted by Insurance Post in association with LexisNexis Risk Solutions saw an expert panel discuss how data enrichment can be used from a post-loss perspective and what this change could mean for the future of property claims. This article provides a summary of the discussion.

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